The loss of exclusivity for several products and the disposals of Astra Tech and Aptium put pressure on top line as well as bottom line of AstraZeneca PLC during the third quarter ended September 2012. Its net profit declined sharply by 56 per cent to US$1,533 million from $3,485 million in the similar period of last year. Its revenues also declined by 18.6 per cent to $6,682 million from $8,213 million. Its core EPS declined by 8 per cent to $1.51.

Its US revenues declined by 19 per cent to 2,573 million in the third quarter from $3,187 million, as a result of the loss of exclusivity for Seroquel IR. Excluding Seroquel IR, revenue in the rest of the portfolio increased by nearly 6 per cent, including $44 million in new revenue from recognition of the company's share of the Amylin diabetes portfolio from August 9. The negative impact of US healthcare reform on third quarter revenue and costs was approximately $150 million.

Revenue in the Rest of World declined by 12 per cent to $1,211 million and than in Western Europe moved down by 20 per cent to $ 1,461 million from $2,067 million. Loss of exclusivity on four products viz., Seroquel IR, Atacand, Nexium and Merrem accounted for 70 per cent of the revenue decline. Revene in established ROW was down 18 per cent, largely due to a 43 per cent decline in Canada as a result of generic  competition for Crestor and Atacand. Its revenue in China and Russia increased by 23 per cent. Further, a weak performance in Mexico in the face of challenging market conditions continues to negatively impact its performance.

Pascal Soriot, CEO, said, “As expected, the company's financial performance in 2012 largely reflects the ongoing impact from the loss of exclusivity for several brands in key markets, as well as the challenges that confront the pharmaceutical industry as a whole.”

For the nine months period ended September 2012, AstraZeneca's revenue declined by 17 per cent to $20,691 million from $24,935 million in the similar period of last year. Its net profit declined by 43.8 per cent to $4,793 million from 8,523 million.

The company continues to anticipate that revenue for the full year will decline in the range of the low to mid-teens. The core EPS target for the full year also remains unchanged, in the range of $6 to $6.30.